$874.041B
$874.041B
$874.041B
12.95%
12.95%
PUBLIC LEDGER
Choose one period at a time. FY2024 and FY2025 are completed fiscal years. FY2026 covers October 2025–August 2026 only; September is excluded. Do not compare its eleven-month total directly with a completed year.
FY2024 · October 2023–September 2024. Final, completed fiscal year actuals. Treasury reporting through October 18, 2024; later revisions possible. Source vintage: this view retains Treasury’s original FY2024 Combined Statement. Its FY2025 statement contains later revised FY2024 comparative totals. No year-to-year change is calculated across those different vintages.
$6,750.485B
Net spending recorded for FY2024.
$4,918.104B
Revenue collected for FY2024.
$1,832.381B
The gap: outlays minus receipts.
Outlays − receipts = deficit. Treasury’s rounded table totals: $6,750.485B − $4,918.104B = $1,832.381B. Headline figures are rounded to $0.01T.
All 19 Treasury function categories. Nonoverlapping accounting categories; amounts are net outlays in billions. Shares use total net outlays, including negative offsets.
Table rounding reconciliation (−$2M)
<0.01%
Total net outlays
Published function rows sum to $6,750.487B. The −$0.002B rounding difference reconciles them to Treasury’s $6,750.485B reported total. This is a rounding reconciliation, not an additional spending category. Shares are rounded to 0.01 percentage point.
Negative amounts reduce net outlays. Collections and credit-program adjustments can offset spending within a function; undistributed offsetting receipts reduce the overall total. These offsets are already included here and must not be added again to federal receipts. Credit-accounting amounts can reflect loan subsidy reestimates, not cash services delivered that year.
Follow the linked spending areas for available investigations. Unlinked area names are accounting context. Investigations use FY2025 accounting; each study retains its own observation period and does not switch years with the ledger.
Plain-language examples, separate from the ledger. They help explain the categories; they are not extra totals or measured outcomes.
Follow the linked spending areas for FY2025 accounting context. Each study retains its own observation period; these investigations do not switch years with the ledger.
Social Security supports retirement, survivors, and disability benefits. Other retirement benefits sit in Income Security and Veterans Benefits and Services.
Medicare is its own function. Health covers other healthcare services, research, and safety; veterans’ medical care sits in Veterans Benefits and Services.
National Defense includes military activities and related defense programs. Veterans’ benefits are a separate function.
Education, Training, Employment, and Social Services includes schools, higher education, training, and social services.
Rental assistance sits in Income Security; mortgage credit in Commerce and Housing Credit; veterans’ housing in Veterans Benefits and Services.
Food and nutrition assistance, including SNAP, sits in Income Security. Agriculture covers farm support and agricultural research.
Transportation covers road, air, and water transport. Community and Regional Development includes local development and disaster relief; water resources also sit in Natural Resources and Environment.
Net Interest records interest costs after related interest income and other offsets. It is separate from program spending.
Congress
Passes spending laws: annual appropriations and laws setting program eligibility and benefits.
President
Proposes a budget, recommends priorities, and signs or vetoes legislation. A budget proposal is not spending law.
Agencies
Implement enacted laws, administer programs, and make payments within their legal authority.
Some spending follows existing eligibility laws and benefit formulas rather than a new allocation each year. Congress can change those laws. Some mandatory programs still receive annual appropriations. Outlays in FY2024 can also pay obligations authorized in earlier years.
FY2024 sources & accounting notes
B = billion dollars; T = trillion dollars. Shares divide each displayed function amount by displayed total net outlays and round to two decimal places. Negative offsets remain included. The rounding adjustment is not a spending function.
- Treasury · FY2024 Combined Statement (opens in a new tab)
Printed p. 14 (PDF p. 20): receipts of $4,918.104B. Printed p. 16 (PDF p. 22): all 19 function rows and total outlays of $6,750.485B. Reporting through October 18, 2024; later revisions possible. Published function rows sum to $6,750.487B; −$0.002B reconciles that rounded table to its reported total.
- OMB · Functional Classification (opens in a new tab)
Exhibit 79A defines functions and subfunctions. Used for descriptions only; no proposed spending amounts are used.
- CBO · Common Budgetary Terms Explained (opens in a new tab)
Definitions of outlays, offsets, credit accounting, mandatory spending, and deficits.
- U.S. Senate · Budget process (opens in a new tab)
President's proposals and congressional spending authority.
- USAGov · How laws are made (opens in a new tab)
Congress passes laws; the president signs or vetoes legislation.